Home Purchase Incentive Act

[AI summary unavailable — showing source text] Home Purchase Incentive Act - Authorizes and directs the Secretary of Housing and Urban Development to make home purchase incentive payments, and to enter into commitments to make such payments, as provided in this Act, in order to encourage the construction and purchase of single-family residential dwellings. States that the Secretary shall make a home purchase incentive payment to any individual who purchases a single-family dwelling to be used as his principal residence: (1) during the four-month period beginning on the date of enactment of this Act, if construction of that dwelling was completed prior to such date of enactment and such dwelling remained unoccupied after the completion of construction; (2) during the six-month period beginning on the date of enactment of this Act, if the construction of that dwelling is completed during such six-month period; or (3) during the one-year period beginning on the date of enactment of this Act, if the construction of that dwelling commences during the six-month period beginning on the date of enactment of this Act and is completed within the one-year period beginning on the date of enactment of this Act. Provides that the amount of a…